Ethereum Miners Got $ 800 Million In January

miner

Almost 40% of their profits came from fees for processing transactions in the cryptocurrency network. This happened against the backdrop of the Ethereum value. 

Ethereum miners earned $ 800 million in January, breaking the record set in early 2018. According to The Block, over $ 311 million, or 40% of the total, was generated from online transaction fees. According to the F2Pool index, the most efficient altcoin mining devices such as the Nvidia RTX 3080 or the InnoSilicon A10 Pro ASIC can generate up to $ 62 in revenue per day.

On the night of January 25, the cost of Ethereum on Binance for the first time in history reached $ 1,475 thousand. In March last year, the cryptocurrency set a local minimum of $ 86, since then its quotes have risen by 1615%.

Earlier, Viktor Pershikov, a leading analyst at the 8848 Invest management company, predicted that altcoin price could reach $ 2 thousand in 2021. This will be helped by the cooperation of the Ethereum Foundation project with the popular forum with a built-in voting system Reddit. The initiative aims to advance the scaling and development of technologies that are needed to run large decentralized applications.